The price is reacting to the channel pattern.
on a daily time frame the pattern is retesting the levels and the price is very near to the monthly supply zone. so it can be a trap that people will think to buy the script once the daily price moves upward and then it react to the monthly supply zone.
be careful in this trade.
Jain Irrigation has given a range breakout on the Weekly Chart. (CMP: 71.80). The Stock has a possible upside of 80, 95, and 120. Also, increasing volumes and Strong support is seen at 54. Closing above 66.70 is needed.
Disclaimer: I am not a SEBI registered analyst. All the stocks are for educational purposes. Investors must consult a financial advisor prior to...
1. Stock has been in a channel from a long time
2. Chances of Sustaining of the channel is very low
3. High probability to get breakout on upside
4. Risk to reward is favorable
5. No immediate resistance
The stock now seems to be making an attempt to move out from a tight consolidation after multiple failed shake ups. Will be interesting to see whether it can give a confirmation on today's attempt
Pennant breakout with supporting volume.
stock already in uptrend & Pennant formed which is trend continuation pattern.
also trend change to uptrend in monthly time frame also
BUY - JAIN IRRIGATION
CMP - Rs. 58
Target - 1: Rs. 87
Target - 2: Rs. 114
Target - 3: Rs. 145
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Timeframe - 6-12 months
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Technicals - Trendline Breakout
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This is just a view by an expert analyst, please invest at your own risk.
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JISLJALEQS strong moves with volume.
2 possible trades.
Entry - CMP
Target - 50/56/63
SL - close below 21 EMA
There is a possibility stock can fall from T1. Book partial profits or trail SL as per risk reward.
Study the stock & Trade responsibly.
Idea is Simple Invest in stocks which Breakout with Volume.
Rather than targeting 20% to 25% profits, the profit goal is a more modest 10%, or even just 5%
Idea is Simple Invest in stocks which Breakout with Volume.
Rather than targeting 20% to 25% profits, the profit goal is a more modest 10%, or even just 5%
Stock above 50 levels may see near target of 75-80, promoter holding less and also pledged, however quarterly sales and profit jumped and promoter set target to reduce debt. Risky trade
